Business
Bridgemarq Real Estate Services® Reports First Quarter Results and Declares Monthly Dividend
Bridgemarq Real Estate Services Inc. ("Bridgemarq" or the "Company") (TSX: BRE) today released its first quarter consolidated financial results and announced a monthly dividend to holders of the Company's restricted voting shares.
About this update from Bridgemarq Real Estate Services, Inc.
[{"type":"text","content":"TORONTO, May 13, 2025 /CNW/ - Bridgemarq Real Estate Services Inc. ("Bridgemarq" or the "Company") (TSX: BRE) today released its first quarter consolidated financial results and announced a monthly dividend to holders of the Company's restricted voting shares.","length":289,"tagName":"p"},{"type":"text","content":"HIGHLIGHTS","length":10,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue in the first quarter amounted to $78.0 million, compared to the $11.9 million generated in the first quarter of 2024, reflecting the operations of the brokerage businesses that were acquired on March 31, 2024. Franchise fees for the first quarter increased marginally due to the benefit of fee increases implemented at the start of the year, partly offset by the fact that the franchise fee revenues received from the acquired brokerages are now eliminated from the consolidated accounts of the Company.","length":511,"tagName":"p"}]},{"val":[{"type":"text","content":"The Company generated net earnings of $6.0 million or $0.20 per fully diluted share, compared to a net loss of $0.4 million or $0.04 per diluted share in 2024, primarily driven by a gain of $5.7 million on the fair valuation of the Exchangeable Units.","length":251,"tagName":"p"}]},{"val":[{"type":"text","content":"The Company saw an increase in working capital which contributed to cash used in operating activities of $1.3 million in the first quarter of 2025, compared to cash provided of $2.1 million in 2024.","length":198,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted Net Earnings amounted to $3.1 million in the first quarter or $0.20 per diluted share, compared to $2.4 million or $0.19 last year, primarily due to the operating results of the acquired businesses, lower interest expenses and lower impairment of intangible assets.","length":274,"tagName":"p"}]},{"val":[{"type":"text","content":"The Company generated $4.1 million in free cash flow in the first quarter of 2025, compared to $4.0 million in 2024.","length":116,"tagName":"p"}]},{"val":[{"type":"text","content":"The Board of Directors approved a dividend to shareholders of $0.1125 per Restricted Voting Share, payable on June 30, 2025, to shareholders of record on May 30, 2025.","length":167,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":1517...